UK SUPREME COURT LIFTS STAY OF ENFORCEMENT OF ICSID AWARD AGAINST ROMANIA

In Micula and others (Respondents/Cross-Appellants) v Romania (Appellant/Cross-Respondent) [2020] UKSC 5 the UK Supreme Court (the “SC”) found that the duty of sincere cooperation under EU law does not preclude enforcement of an ICSID Convention (the “Convention”) award against Romania (the “Award”). In what is the enforcement stage of the long-running and well-known saga of … Read more

ICSID’S LONGEST RUNNING DISPUTE: TRIBUNAL DISMISSES APPLICATION FOR ANNULMENT OF RESUBMISSION AWARD

An ad hoc committee (the “Resubmission Committee“) has recently dismissed the claimants’ application to annul a resubmission award issued in September 2016 (and subsequently rectified) in Victor Pey Casado and President Allende Foundation v Republic of Chile (ICSID Case No. ARB/98/2), the longest dispute in the history of the International Centre for Settlement of Investment … Read more

ICJ determines first ever compensation claim for environmental harm

On 2 February 2018, the International Court of Justice (the “ICJ” or the “Court”) delivered judgment in the case concerning Certain Activities Carried Out by Nicaragua in the Border Area (Costa Rica v Nicaragua), determining the amount of compensation due to Costa Rica for environmental harm caused by Nicaragua’s activities in the northern part of … Read more